DFIN Reports Third-Quarter 2026 Results
Key Highlights
- ➤Q3 net sales $185.0 million, up 5.5% year over year
- ➤Q3 net earnings $21.3 million versus $40.9 million loss last year
- ➤Adjusted EBITDA $54.4 million, up 9.9%; margin expanded 120 basis points
- ➤Q4 guidance: net sales $175 million to $180 million; EBITDA margin 26% to 27%
- ➤ActiveDisclosure growth approximately 24% drove software solutions momentum
Expert Statements
Daniel N. Leib, President and Chief Executive Officer of DFIN
“We are pleased with our performance in the quarter, which featured 5.5% consolidated net sales growth, an increase in Adjusted EBITDA, and Adjusted EBITDA margin expansion. Software solutions net sales increased 5.0% versus the third quarter of 2025, driven by the continued momentum of ActiveDisclosure, a component of our compliance offerings, which grew approximately 24% as we continued to expand client adoption, increase the value of our offering, and migrate certain traditional services onto the platform. Software solutions net sales accounted for 51.5% of total net sales, similar to last year's third-quarter software sales mix, despite a moderate increase in both tech-enabled services and print and distribution net sales.”
Daniel N. Leib, President and Chief Executive Officer of DFIN
“During the third quarter, capital markets deal volume moderated from the levels we experienced during the first half of the year, especially in the number of priced IPOs, though overall market activity continued to improve compared to the third quarter of last year, resulting in higher capital markets transactional revenue. The combination of higher overall net sales and ongoing operating efficiencies expanded third-quarter Adjusted EBITDA margin to 29.4%, an increase of approximately 120 basis points year-over-year. Additionally, improved profitability and disciplined working capital management contributed to strong year-over-year growth in both operating cash flow and free cash flow.”
Daniel N. Leib, President and Chief Executive Officer of DFIN
“Entering the fourth quarter, we are encouraged by the continued momentum of our strong operating performance. As we celebrate DFIN's 10th anniversary as an independent company, we remain focused on building on the strong foundation we have created over the past decade and positioning DFIN for our next chapter of growth and long-term value creation.”
CHICAGO, Oct. 29, 2026 /PRNewswire/ -- Donnelley Financial Solutions, Inc. (NYSE: DFIN) (the "Company" or "DFIN") today reported financial results for the third quarter of 2026.
Third-Quarter 2026 Third-Quarter 2025 $ Change % Change GAAP Metrics Net Sales $185.0 million $175.3 million $9.7 million 5.5 % Net Earnings (Loss) $21.3 million ($40.9 million) $62.2 million nm Operating Cash Flow((a)) $98.2 million $74.4 million $23.8 million 32.0 % Non-GAAP Metrics((b)) Adjusted EBITDA $54.4 million $49.5 million $4.9 million 9.9 % Adjusted EBITDA margin 29.4 % 28.2 % nm 120 bps Adjusted Non-GAAP Net Earnings $26.8 million $23.7 million $3.1 million 13.1 % Free Cash Flow((c)) $85.8 million $59.2 million $26.6 million 44.9 %
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